Alex Brown advisors and their predecessor firm Deutsche Bank has been a part of my family’s history for decades. Both myself and my father, Norman Gershman, were once advisors who always had high respect for these advisors and consequently, we too have acted as trusted consultants. As the firm now folds into Raymand James, we…
Alex Brown, formed in 1800, is the oldest and one of the best investment banks in America – a relatively small house that, what it lacked in diversity and reach more than made up for in service, knowledge, and attention to detail. That was the boutique firm that Deutsche Bank bought in 1999, and the…
First things first As we converse daily with dozens of Alex Brown advisors, we noticed a recurring subject around uncertainty which would lead to the following question: “What are you seeing other FA’s like me do?” In this survey we set out to answer that question. The Gershman Group conducted an independent survey, anonymous compiling…
The run on First Republic Bank driven by clients’ fears has left financial advisors in quite a quandary. Many advisors are shell shocked by what’s happened and are in a state of confusion about the decision to stay or go. One group clearly has decided to be on the go, some have already departed, and…
Our loyalty is to First Republic Bank as a proud 30-year private banking customer and having recruited diligently for the firm for over a decade. Like all advisors, we are extremely hopeful for a positive outcome and recommend to advisors expend all options to stay at the firm. Of course, many have begun to formulate…
On September 27, 2022 the SEC charged 15 broker dealers and one affiliated investment advisor over $1.1 billion in fines due to failure to keep appropriate records. This time, the focal point was text messaging, normally bundled with a more significant offense, but this time, a stand-alone. As an advisor, how many times have you…
First Republic acquires a $10 million group, Sal Tiano and team in Florida. Sal leaves JP Morgan after 29 years. The team was managing approximately $2 billion + in assets at JPM. A great win for First Republic. ABOUT FIRST REPUBLIC First Republic has been on a major recruiting binge, recruiting top teams nationally. In…
Seller’s Market Begging Advisors To Name Their Price During and shortly after the financial crisis recruiting deals skyrocketed to all-time highs No longer were practice acquisitions being had in the 200’s, rather the best teams were cashing in above 300%. First Republic, Wells Fargo, and even Morgan Stanley says ‘hold my beer’. Premium deals routinely…